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REGISTERED NUMBER: 03053984 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

PALLADIUM DISTRIBUTION LIMITED

PALLADIUM DISTRIBUTION LIMITED (REGISTERED NUMBER: 03053984)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PALLADIUM DISTRIBUTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: A S Kainth





REGISTERED OFFICE: Peatling Lodge Farm
Bruntingthorpe Road
Peatling Parva
Lutterworth
Leicestershire
LE17 5RB





REGISTERED NUMBER: 03053984 (England and Wales)





ACCOUNTANTS: AEH Accountancy Ltd
Church Farm
Main Street
Willey
Warwickshire
CV23 0SH

PALLADIUM DISTRIBUTION LIMITED (REGISTERED NUMBER: 03053984)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,548 10,548

CURRENT ASSETS
Stocks 23,790 29,000
Debtors 5 874,443 885,360
Cash at bank and in hand 4,256 9,098
902,489 923,458
CREDITORS
Amounts falling due within one year 6 973,833 970,127
NET CURRENT LIABILITIES (71,344 ) (46,669 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(60,796

)

(36,121

)

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (60,798 ) (36,123 )
(60,796 ) (36,121 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 March 2024 and were signed by:





A S Kainth - Director


PALLADIUM DISTRIBUTION LIMITED (REGISTERED NUMBER: 03053984)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Palladium Distribution Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial assets
Receivables are stated at amortised cost using the effective interest rate method. A provision for impairment of receivables is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of payment. Receivables are considered for impairment on a case by case basis and any provision is based on the directors' assessment of the amount recoverable on each receivable.

Financial liabilities
The company's financial liabilities include trade and other payables, which are measured at amortised cost using the effective interest rate method. Financial liabilities are recognised when the company becomes a party to the contractual agreements of the instrument. Interest-related charges are recognised as an expense in the period in which they are incurred.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


PALLADIUM DISTRIBUTION LIMITED (REGISTERED NUMBER: 03053984)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 July 2022
and 30 June 2023 11,055
DEPRECIATION
At 1 July 2022
and 30 June 2023 507
NET BOOK VALUE
At 30 June 2023 10,548
At 30 June 2022 10,548

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 864,819 879,942
Other debtors 8,656 3,446
VAT 968 1,972
874,443 885,360

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 50,006 50,006
Trade creditors 715,924 719,699
Tax (369 ) (369 )
Social security and other taxes 473 -
Other creditors 211,738 204,975
Directors' current accounts 3,261 3,016
Accruals and deferred income (7,200 ) (7,200 )
973,833 970,127

PALLADIUM DISTRIBUTION LIMITED (REGISTERED NUMBER: 03053984)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

7. RELATED PARTY DISCLOSURES

As at 30 June 2023 an amount of £3,261 (£2022, £3,016) was owed to the director by the company.

8. ULTIMATE CONTROLLING PARTY

The controlling party is A S Kainth.

The ultimate controlling party is A S Kainth.